Reinsurance News

Reinsurance firm Hannover Re has set up an initial EUR 220 million net reserve for losses from the Covid-19 pandemic, but warns that it finds it impossible to quantify the potential full impacts to its business across the P&C and life sides.

Insurance and reinsurance firm Hiscox Group has announced a new capital raise to help the company be better positioned for growth opportunities and rate increases across its reinsurance and U.S. wholesale businesses, but at the same time third-party capital support at the firm has dipped.

A new report from A.M. Best highlights the potential damage that any legislative moves to force retroactive business interruption claims into the insurance and reinsurance industry could cause, saying that as much as 50% of re/insurer capital could be wiped out with just two months worth of claims.

American International Group, Inc. (AIG) officially launched its latest syndicate at Lloyd’s yesterday, with Lloyd’s Syndicate 2019 set to be the largest ever launch in that market with a target for around $1 billion of gross premiums to be written.

For Berkshire Hathaway, the insurance and reinsurance underwriting conglomerate led by Warren Buffett, it’s not simply a question of carefully crafted exclusions when it comes to pandemic risks, for the so-called Sage of Omaha is perfectly happy to underwrite it, as long as the price is right.

Bermudian specialist insurance and reinsurance firm AXIS Capital reported a drop in fee income earned from the use of third-party and insurance-linked securities (ILS) capital within its business, as cessions to investors declined considerably in the first-quarter of 2020.

AlphaCat Managers, the insurance-linked securities and collateralised reinsurance investment manager entity of insurance giant American International Group’s (AIG) delivered its parent $10 million of income for the first-quarter of 2020.

Peak Re said this morning that its previously announced acquisition of Bermuda-based insurance-linked securities (ILS) asset manager Lutece has now completed and the unit is being rebranded as Peak Capital.

Our fourth Artemis Live video interview features an interesting and wide-ranging discussion with David Flandro, Managing Director, Hyperion X Analytics, a data and technology focused unit of the global Hyperion Insurance Group.

Claims paid by Japanese domestic insurance firms after the impacts of 2019’s typhoon Faxai, typhoon Hagibis and the heavy rainfall event that closely followed these storms have risen by more than 6%, reaching $10.04 billion, according to the General Insurance Association of Japan (GIAJ).